Bike Insurance

No Andy Schleck.

Andy Schleck

No Contador.

Alberto Contador (left) of Spain is followed up a climb by Omega Pharma-Lotto’s Philippe Gilbert

Evans is too old.

Voeklers knee inflammation causing him some distress.

Europcar’s Thomas Voeckler of France descends the Col du Galibier (from uk.eurosport.yahoo.com

Team Sky are blitzkreiging all and sundry.

Team Sky from sky.com

TdF must be a lay-down mazaire for a Yellow Wiggo. Throw in Australians Michael Rogers and Richie Porte into the Brit team, and not to forget the Green for Cavendish, and there is no doubt Team Sky will be an absolute powerhouse at the TdF.

BMC were the supposed Super Team this season. They had deep pockets full of Euros. Unfortunately the things haven’t quite gone their way.

Team BMC (from Podiumcafe)

All that being said, stranger things have happened at TdF. Some said this years Giro was going to be boring as hell with no Contador. It turned out to be one of the best for a long time.

Evans may be a few years older than Wiggo, and may not have the team around him that Wiggo has, but he has a heart as big as Phar Laps’.

Cavendish may not have it all his own way this year too. He is no doubt the favourite for the green jersey, but the big question I have is: can Team Sky provide a leadout team for Cavendish as well as providing the support Wiggo will need up the Cols? The other teams will no doubt try to isolate him.  Will Rabobank be able to provide Mark Renshaw a lead out train to snatch the points from Cavendish?

Mark Renshaw from cyclingnews.com

Will Andre Greiplel continue his improvement away from the shadow of Cavendish and start to take some TdF lines as well?

Andre Greipel from pezcyclingnews.com

Hmmmm. It’s going to be a very interesting 3 weeks.

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Ride Like Crazy

The guys over at SAPOL have been doing a great job fundraising for the fight against cancer through their Ride Like Crazy charity rides.

This year they are hosting a TdF stage 12 screening at the Capri on Thursday 12th July.  If you get the opportunity, a great cause and will be a great night to watch the sweat pour off Evans by the bucket load.  Details below.

Ride Like Crazy

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Bike Insurance

I have no affiliations with any insurer, I am not in the insurance profession and do not profess to be, not even in a small way, an expert in insurance.

That being said, the subject of bike insurance has always been on my mind, so last week I asked a question about what other riders think of bike insurance.

This article is the first of 2 that will look at what some of my friends and riding colleagues think and do about protecting their investment. There are differing opinions, so what I present below is a summary of their responses.

The primary use of Insurance is to provide financial protection against physical damage and/or bodily injury resulting from damage or theft and against liability that could also arise therefrom. The specific terms of bike insurance vary with legal regulations in each state and across each insurer.

Taking out bike insurance, is like betting the insurer that you will incur some form of bike damage, theft or medical claim. Are you prepared to accept the risk that you will lose the bet?

The feedback received has been summarised below:

  • AAMI – Bundled with House and Contents (H&C).
  • Allianz – Bundled with H&C x 2 –Excellent with claims (I have heard this from 2 riders). One response indicated that it  replied that it covers Racing also
  • Elders – Bundled with H&C but is insured for on road accidents & theft from outside of the home.
  • Westpac Bundled with H&C – Full replacement value covers Racing also
  • Velosure Bike Insurance – Standalone for $11.000 cover at $40 per month. This respondent had a claim 4 weeks after they bought the bike for 80% of the bikes value, the bike was replaced in 2 weeks. They negotiated with Velosure and contributed towards the claim, they replaced the bike. (S-Works sL4 with DI2. Still has to claim medical costs which is capped at $1,000.00 per claim.
  • SGIC – Bundled with H&C – $6000 – which is slightly too much for two and short on one ($9k). Premiums are an additional $20 per month, $1000 excess, therefore bikes are insured for $5k. The additional cover of $20/mnth provides away from home cover on all items up to $6k. SGIC turned out to be cheaper than RAA by $20 with whom they previously had $1000 ($400 excess) cover only.
  • SGIC – Bundled with H&C. Bike insured for $9,000. The policy covers me whilst riding anywhere. Respondent was impressed by a friends cover and the fact they had delivered……..numerous times!
  • CGU – Bundled with H&C. Replacement value.  Only issue is it is not covered for damage whilst riding.  Covered for accidental damage/loss/theft.
Yet another victim of the roof carrier system and garage combination and an absent-minded father. Son not happy. (from bustedcarbon)
  • AAMI– Bundled with H&C.$18,000 for my BMC Pro Machine, $5,000 for my Santa Cruz Blur, $5,000 for my Santa Cruz v-10c. Premiums approx $120 per month. Made a claim when a bike got stolen and it was relatively painless. Good customer service. Speedy payment. Paid the money direct to the insured and not the bikeshop so it meant I could shop around for another bike.
  • BikeSA – Automatic with membership. This includes 3rd party damage which is important. It helped the respondents’ friend after a serious car / bike accident which wrote off a car.
(from bustedcarbon)

Other responses include:

  • None that I know of
  • Bike spends too much time in the shed to be insured
  • Don’t have bike insurance, don’t believe in it and my BMC is probably not worth insuring
  • Bugger the bike insurance – I just upped the life insurance. More likely to claim on the latter.
  • I don’t have any separate bike insurance. As far as I know it is covered under general household
  • No bike Insurance. Our H&C doesn’t provide for Bike cover and, stand alone Insurance is too expensive when compared to the accelerated/rapid depreciation on a new bike.
(from bustedcarbon)

Key issues (some are just plain obvious but need attention nonetheless)

  • Excess
  • Specified v’s non specified items
  • What is the reason you are insuring your bike
  • What are the reasons you could possibly be claiming on your bike insurance
    • Stolen from your house
    • Stolen from outside of your house, eg from outside a coffee shop
    • Damaged within your house by intruder, fire etc.
    • Damaged by another rider. Hopefully covered by the other riders insurance
    • Damage to another bike by your negligence. Covered by you one way or the other. Bike SA insurance covers for 3rd party property and medical
    • Damage to other 3rd party property such as car by your negligence. Covered by you one way or the other. Bike SA insurance covers for 3rd party property and medical
    • Accidental damage
  • What is your medical cover?
  • Don’t get confused between the Bike SA cover and your H&C/Standalone cover

At the end of the day, you need to be aware of what your risks are and whether you are prepared to accept those risks.

If you do decide to insure, do your research, get a number of quotes, talk to your fellow riders about what they do. Perhaps even have a chat to an insurance broker who may be able to bundle up more than one policy and get you a better deal.

A friend used an insurance broker for his bike insurance, travelled overseas and had a fairly nasty accident. Made it back in several pieces, and is now back out on the road. The insurance broker was able to assist with his claim and smoothed out what could have been a long and testing process.

One last thing, a nasty thought, but how is your life insurance?

Cycle of Life

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Toy of the Week

OK, it’s not quite as cold as it was last weekend, but still cold nonetheless.

Layering up in this cold weather is the ideal way to help manage the cold. Base layers are a critical component to any cyclist’s wardrobe providing thermal regulation in all climates and conditions.. You can’t get any better than Merino base layers, and this weeks Toy of the week is the Capo Torino short sleeved base layer

Capo Torino Base Layer

Check out Base Layers for a great review at BikeRadar.

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Website of the week – Jet Propulsion Laboratory

“Do not go where the path may lead,” wrote Ralph Waldo Emerson. “Go instead where there is no path, and leave a trail.”

That could be the motto of the Jet Propulsion Laboratory.

Orion nebula

This graphic illustrates where astronomers at last found oxygen molecules in space — near the star-forming core of the Orion nebula.

The molecules, whose presence had been hinted at in space before, were definitively confirmed using the Herschel Space Observatory, a European Space Agency mission with important NASA contributions.

This useful fact and much more can be found at http://www.jpl.nasa.gov/index.cfm

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